Roosevelt University offers a welcoming, diverse environment and strong financial aid opportunities, but prospective students should consider both its strengths and its drawbacks—especially regarding costs and the financial aid process—before enrolling. Understanding the benefits and limitations of Roosevelt, particularly as they relate to financial aid, can help students make an informed decision about their educational investment.
Background: About Roosevelt University
Founded in 1945 and located in downtown Chicago, Roosevelt University is a private, non-profit institution known for its social justice mission and diverse student body. The university offers undergraduate and graduate programs across various disciplines, including business, performing arts, education, and sciences. Its urban campus provides students with access to the cultural, professional, and social opportunities of Chicago.
Understanding Financial Aid at Roosevelt
Roosevelt University participates in federal, state, and institutional financial aid programs. Financial aid at Roosevelt typically includes:
- Federal aid: Pell Grants, Direct Subsidized/Unsubsidized Loans, PLUS Loans
- State aid: Illinois Monetary Award Program (MAP) grants for eligible residents
- Institutional scholarships: Merit- and need-based awards specific to Roosevelt
- Work-study: On-campus job opportunities for eligible students
Most students apply for aid by completing the Free Application for Federal Student Aid (FAFSA). Roosevelt’s financial aid office then assembles an individualized package, which may include a mix of grants, scholarships, loans, and work-study. Aid amounts depend on demonstrated need, academic achievement, and available funding.
Pros of Attending Roosevelt University with Financial Aid
- Diverse, inclusive environment: Roosevelt has a reputation for welcoming students from all backgrounds, including first-generation college students and underrepresented groups.
- Substantial institutional aid: Roosevelt awards significant merit- and need-based scholarships, sometimes covering a large portion of tuition for qualified students.
- Access to federal and state programs: Eligible students can receive grants and loans through federal and Illinois programs, supplementing institutional aid.
- Urban campus advantages: The downtown Chicago location offers unparalleled access to internships, cultural events, and job opportunities, which can help offset college costs through part-time work.
- Supportive financial aid staff: Many students report positive experiences with Roosevelt’s financial aid counselors, who help navigate complex processes.
- Specialized scholarships: Roosevelt offers awards for transfer students, performing arts majors, and students with specific backgrounds, increasing accessibility.
Cons and Challenges: What to Watch Out For
- High sticker price: As a private institution, Roosevelt’s published tuition and fees are considerably higher than public universities. Even with aid, some families may find the net cost challenging.
- Financial aid gaps: Not all students receive enough aid to fully cover tuition, fees, and living expenses. This can result in significant out-of-pocket costs or student loans.
- Year-to-year uncertainty: Institutional aid can change based on academic performance or funding availability, so future aid packages may be less generous than the first year’s offer.
- Loan reliance: Many students at Roosevelt, as at other private universities, take on federal or private loans, leading to long-term debt.
- Limited endowment: Compared to elite private universities, Roosevelt has a smaller endowment, which can limit the amount and stability of institutional grants and scholarships.
- Administrative delays: Some students have reported slow processing times or communication issues with the financial aid office, especially during peak periods.
How Roosevelt’s Financial Aid Compares
Compared to other private universities in Chicago (like DePaul or Loyola), Roosevelt’s tuition is often slightly lower, but its financial aid packages may also be less robust due to its smaller endowment. Public universities (such as the University of Illinois system) generally offer lower tuition for in-state students, but may not match the personalized aid Roosevelt provides to certain students.
In terms of accessibility, Roosevelt stands out for its commitment to serving nontraditional and underrepresented students, but the overall net cost after aid is highly individual and depends on each student’s financial situation and academic profile. Prospective students should use Roosevelt’s Net Price Calculator and compare actual aid offers—not just published costs—before making a decision.
Costs Beyond Tuition: Factoring in the Total Price
While tuition and fees are the largest expenses, students should also plan for:
- Housing: Roosevelt offers on-campus housing, but many students commute or live off-campus in Chicago, which can be expensive.
- Books and supplies: These costs can add several hundred to a few thousand dollars per year.
- Transportation: Chicago’s public transit is accessible, but monthly passes or commuting costs should be budgeted.
- Personal expenses: Living in a major city can increase costs for food, entertainment, and other necessities.
Financial aid may cover some or all of these expenses, but often students need to supplement with savings, family contributions, or additional loans.
Maximizing Financial Aid at Roosevelt University
To make the most of available aid, prospective and current students should:
- Apply early: Submit the FAFSA and all required documents as soon as possible after October 1.
- Maintain academic standing: Many scholarships and grants require a minimum GPA or full-time enrollment.
- Seek outside scholarships: Local, national, and private scholarships can supplement Roosevelt’s aid.
- Meet with financial aid counselors: They can help identify additional opportunities or appeal for more aid if circumstances change.
- Understand loan terms: Borrow only what you need, and be aware of repayment obligations after graduation.
- Consider work-study or part-time work: On-campus jobs or internships can help cover costs while building your resume.
Common Problems and How to Address Them
- Unexpected costs: Students sometimes underestimate living expenses. Creating a detailed budget and talking with current students can help anticipate real costs.
- Aid package changes: If your aid is reduced due to academic performance or changing family finances, contact the financial aid office immediately to discuss options or appeal.
- Loan default risk: If you’re concerned about borrowing, ask about Roosevelt’s loan counseling resources and explore alternative funding.
- Administrative delays: Submit paperwork early, keep copies, and follow up regularly during peak times to avoid processing delays.
Alternatives to Consider
Before committing to Roosevelt, students should compare:
- Public universities: Lower tuition for in-state students, but possibly less personalized aid.
- Community colleges: Lower cost for the first two years, with transfer agreements to four-year schools (including Roosevelt).
- Other private colleges: Compare aid offers, campus culture, and outcomes.
- Online or part-time study: Flexible options for working students, sometimes at lower cost.
Each path has trade-offs in terms of cost, campus experience, and long-term outcomes. Comparing financial aid packages side-by-side is critical for making a well-informed choice.
Frequently Asked Questions
Is Roosevelt University generous with financial aid?
Roosevelt offers substantial financial aid, particularly to students with demonstrated need or strong academic records. However, the total aid package varies by student, and some may still face significant costs, especially for housing and living expenses.
What is the average student debt at Roosevelt?
The average debt for Roosevelt graduates is in line with national averages for private universities. However, individual debt loads depend on aid received, borrowing choices, and time to graduation. Students are encouraged to borrow only what is necessary and to consider work-study or other funding sources.
How do I apply for financial aid at Roosevelt?
Start by completing the FAFSA as soon as possible after October 1 each year. Roosevelt’s financial aid office may request additional documentation. Deadlines matter—late applications may receive less aid.
Does financial aid cover housing and living expenses?
Financial aid packages can include allowances for housing, food, and other expenses, but often do not fully cover these costs. Students may need to supplement with loans, savings, or work income.
Can I lose my scholarship or aid?
Yes. Many scholarships and grants require maintaining a minimum GPA and full-time enrollment. Failing to meet these requirements can result in reduced or lost aid. Always read the terms of your award carefully.
What if my financial situation changes?
If your family’s income drops or you face unexpected expenses, contact the financial aid office. You may be able to appeal for additional aid or special consideration.
Conclusion: Is Roosevelt University Right for You?
Roosevelt University provides a unique blend of urban opportunity, diverse community, and accessible financial aid, making it a strong choice for many students—especially those seeking a socially conscious education in Chicago. However, the high cost of attendance and potential for aid gaps mean that careful planning is essential. Comparing financial aid offers, understanding the terms, and budgeting for all expenses will ensure that students make the best possible decision for their academic and financial future.
See the main Roosevelt University pros and cons.